Trading

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  1. Florida SBA nears decisions on brokerage, collateral management searches

    trueFlorida State Board of Administration, Tallahassee, is considering five firms in its search for prime brokerage services: Citigroup, Deutsche Bank, New Edge, Bank of America Merrill Lynch and Bank of New York Mellon unit Pershing LLC.

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  1. SEC settles with Athena Capital on first high-frequency trading manipulation case

    trueAthena Capital Research agreed to pay $1 million to settle charges by the SEC that the high-frequency trading firm made aggressive, rapid-fire trades in the final two seconds of almost every trading day to manipulate the closing price of thousands of Nasdaq-listed stocks.

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  2. Market share increasing for largest FX dealers — report

    trueThe five largest foreign-exchange dealers by market share handled more than half of all FX trades in 2013, and more volume will head to those dealers in the future, said a Greenwich Associates report issued Thursday.

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  3. ISDA introduces rules to delay swaps termination rights

    trueSwaps termination rights and collateral demands will be delayed under rules introduced by the International Swaps and Derivatives Association and agreed to Oct. 11 by 18 major banks.

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  4. Better liquidity hoped for from electronic venues

    trueCreators of electronic trading venues for fixed-income securities are hoping that, by matching buyers and sellers, more choices in trading will result in more liquidity in the secondary market.

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  5. BNY Mellon to shutter European derivatives clearing business

    trueBank of New York Mellon plans to close its European derivatives clearing business because the implementation of European clearing rules has stalled.

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  6. Managed funds group calls for market reforms

    trueManaged Funds Association is calling on federal regulators to consider further structural reforms in equity markets.

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  7. BNY Mellon shutters derivatives sales and trading business

    trueBank of New York Mellon is closing its derivatives sales and trading business, based in New York.

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  8. TMX names new CEO

    trueLou Eccleston was named CEO of TMX Group, operator of the Toronto and Montreal stock exchanges among other Canadian equity, fixed-income and energy trading venues.

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  9. Tick-size pilot program could help small caps

    trueThe SEC's proposed tick-size pilot program targeting small-cap stocks should lead to improved access to capital for small companies, sources say, but whether that translates to higher returns for institutional small-cap investors is less clear.

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  10. Qantas Super, Parametric relationship was serendipitous

    trueQantas Super’s selection of Parametric Australasia as a “centralized portfolio manager” to consolidate trading of the superannuation fund’s A$3 billion (US$2.6 billion) equity allocation was equal parts serendipity and meeting of minds, executives of the firms said.

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  11. BlackRock seeks overhaul of corporate bond trading market

    trueBlackRock has called for an overhaul of the U.S. corporate bond trading market, saying the current system is “broken” and hurts those that borrow through the market.

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  12. Arbageddon: One day, three deals, all spreads

    trueOn Aug. 6, the first broad-based merger spread widening occurred since the fall of 2011. The breakup of three announced deals that day widened spreads and provided a unique entry point to capture value through the anticipated convergence of these spreads.

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  13. FINRA puts out proposals to improve transparency of dark pools' trading systems

    trueFINRA’s board on Friday made several proposals to improve transparency in alternative trading systems in dark pools, both for the equity and fixed-income markets.

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